Rafael Shultz-Kraft of Glassnode Forecasts Extreme Bullish Momentum for BTC

News • 2020/12/14 • by

Rafael has labeled a lot of BTC trade indicators as extremely bullish and forecasted that Bitcoin would grow 10X its current price.

On the 9th of December, the CTO of Glassnode, Rafael, posted a thread on his Twitter account sharing the reasons for his extreme hopeful forecast, giving six of the significant on-chain trade pointers presently moving at the same points they were at the beginning of 2017.

Major Updates

Glassnod CTO predicts the price for bitcoin

He based the prediction on the bitcoin movement in 2017

Bitcoin is likely to retrace before it rallying again

Every of Rafael's forecasts shows BTC moving into six figures, with every one of the predictions but one showing that bitcoin will surpass $200,000.

For all of the pointers, Rafael calculated the gains yielded when the chart shifted from a similar spot three years ago. He then did the multiplication of BTC's present cost by the same percentage gain.

Rafael also stated that BTC's NUPL, the contrast between unsold profits and losses assumed when tokens shifted on the chain last, had gone up back to 78% of its record high three years ago.
BTC's cost increased 1,400% to its record high, as NUPL went up from a similar point to where it currently stood in 2017. Rafael's forecast of BTC's cost could get $286,000 this time if the same story plays out.

What do you think of Rafael's predictions? Let's discuss this in the comments.